Galaxy Digital to Raise $250M for Credit Fund

Credit institution will issue loans to companies affected by the bear market, including ICOs
24 January 2019   443

Galaxy Digital, founded by ex-partner of Goldman Sachs and former top manager of Fortress Investment Group Mike Novogratz, plans to raise $ 250 million under the fund for lending to cryptocurrency companies in difficult situations. This is reported by Business Insider.

New fund will issue loans to companies affected by the bear market, including ICO-startups. Probably, borrowers will be able to mortgage cryptocurrency funds and mining equipment.

Earlier, Novogratz increased its stake in Galaxy Digital to 79.3%, acquiring 7.5 million shares for $ 4.8 million.

Recall that Galaxy Digital is actively involved in financing BlockFi blockchain-startup. In the summer of 2018, the bank invested $ 52.5 million in the company, and in December joined Morgan Creek, Susquehanna, Akuna Capital and Devonshire Investors in the next round of financing for $ 4 million.

New York-based BlockFi offers loans to corporate and private clients, taking their cryptocurrency savings as collateral.

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   81

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.